Nick works with both the Finance and Property teams on a wide variety of analytical tasks, including budgeting / forecasting and valuations, as well as assisting with the execution of projects and transactions. The Government cites too the model of Alzira in Spain where a consortium of private companies not only financed and built facilities but also delivered health services. To put it into perspective, the PFI debt is four times the size of the budget deficit used to justify austerity. Under the PFI, a private sector consortium builds and maintains the building and then leases it back to the public sector. 06975984) limited by guarantee and registered in England and Wales. So why do they think this? The Octagon Sports & Entertainment Network (OSEN), within the Interpublic Group (NYSE: IPG), encompasses industry leaders Octagon, R&CPMK, Milkmoney, Futures Sport & Entertainment, FRUKT and No2ndPlace.This formidable family of agencies specializes in sports, entertainment and lifestyle marketing, and public relations for brands, athletes, and celebrities. Since graduating Auckland University in 2013, Luke has held a variety of roles in, commercial, industrial, retail and residential property management. Mr Prices post has had 3,500 shares and more than 500 comments, mainly insulting the Blairs. [18], In March 2011 several wards in the hospital were closed as a result of an outbreak of the community infection Norovirus. 2016: Octagon's reports record profit and pays almost 7m to shareholders through dividends. The management is saying: There is only one way that this jobs massacre can be lessened. Guiding and overseeing the survey on expiry Review of asset / service data provide by the SPV / PFI service provider/sSupporting future . Prior to joining PFI, Tom spent time working in various Analyst roles at Turners Group and Heartland Bank; most recently coming from a gap year working in Japan. An active participant in setting PFI's overall financial strategy, the finance director will also lead all financial administration, budgeting, financial reporting, fiscal grant management and financial policies and controls maintenance. "[10], The hospital neighbours the constituency of South Norfolk MP Richard Bacon, also a member of the Public Accounts Committee. As a result of money released from the refinancing, Octagon paid out 11 million in dividends to its shareholders. Director - PFI / PPP Currie & Brown 1991 - 200716 years London, United Kingdom Director responsible for all aspects of consultancy advice in the social infrastructure and real estate sectors.. As a result, only specific contractors are allowed to change or fix certain equipment or fittings, such as a plug socket or a light bulb. John Laing Infrastructure Fund (JLIF) updated shareholders that it would expect 86 per cent of the value of its PFI contracts to be compensated in the event that they were taken back into public ownership. MPs on the public accounts committee say Octagon used a refinancing deal of the Norfolk and Norwich PFI (Private Finance Initiative) hospital project to boost the investors' return by a gigantic 153 million, and to increase the liability of the hospital trust to 257 million if it needed to terminate the contract early. . This article is part of our work fact checking potentially false pictures, videos and stories on Facebook. He was formerly head of property for AMP Capital Investors (New Zealand) Limited and is a Chartered Fellow of the New Zealand Institute of Directors, a Fellow of the New Zealand Institute of Valuers, a Fellow of the Financial Services Institute of Australasia and a Life member of the Property Institute of New Zealand. Luke joined PFI as Property Manager in 2019 and was promoted to Senior Property Manager in 2022. 508/Bl. District 2 (North Central): Mark Tjelmeland, Kam is a graduate of the University of the South Pacific and completed a Bachelor of Arts majoring in Accounting and Financial Management, Management and Public Administration and is an Associate Chartered Accountant. Jesus Soriano, Program Director, pfi@nsf.gov, (703) 292-7795 Katie Bratlie, Program Director, pfi@nsf.gov, (703) 292-2638 Samir Iqbal, Program Director, pfi@nsf.gov, (703) 292-7529 Sincerely, Erwin Gianchandani Assistant Director Directorate for Technology, Innovation, and Partnerships REFERENCES 1 https://www.nature.com/articles/d41586-021-03045-w [4] In 2004, the Association of Chartered Certified Accountants assessed the actual costs at 1.16 billion, or around five times the initial cost of 229 million. I also wanted to know why they thought the former PM was profiting from the private finance initiative (PFI) deal which funded the NNUHs construction in 2000. Photo: Parliament TV (Image: Archant). PFI-RP grants are up to $550,000 over 36 months. The new borrowing was at a lower rate of interest and over a longer period, leaving the hospital committed to lease payments for 39 years instead of the original 34, while Octagon increased its rate of return from 19 per cent to 60 per cent. Then at 8pm someone copied and posted the same false information which Mr Hunt had written and it rapidly spread. Director Risk (EHSQ) Management Mar 2000 - Jan 201413 years. 1. It means Octagon's turnover is increasing every year. Registered in England & Wales | 01676637 |. It received 3m from Octagon last year. ALDWYCH CONSULTING LTD. BN25, ENG. Photo: Jonathan Brady/PA Wire, The Norfolk and Norwich University Hospital. Sue enough, the big four accountancy firms, EY, KPMG, Deloitte and PwC, were present at the inception of PFI. [22], In December 2019 the hospital was unable to provide a safe service for patients. 1158683) and a non-profit company (no. Octagon were required to design, construct, operate and finance Norfolk and Norwich University Hospital and to provide facilities management services. The hospital is part of the Norfolk and Norwich University Hospitals NHS Foundation Trust. 'The whole PFI programme was massively ill-judged,' he said. Jon Wiegand Head-Power, UK Global Broking Center. [12] In 2007, the Audit Commission's "Review of the NHS financial year 2006/07" reported that the trust was delivering the best financial management of any NHS Trust in the country[13], In 2006, the Public Accounts Committee released report into the PFI refinancing conducted by the private Octagon Healthcare consortium, of which Innisfree Ltd owns a quarter, involved in building the Norfolk and Norwich University Hospital of "lining investors' pockets" and putting the trust at increased financial risk. If you are dissatisfied with the response provided you can Edward Leigh, chairman of the committee, describes the deal as the 'unacceptable face of capitalism'. Ewan has a valuation background and is a graduate of both Lincoln and Cambridge University. It is 'Rented' to the NHS by a private company called PFI Octagon at a cost of over 50m a year until 2037.. The estimated additional pay is $34,101 per year. 06975984) limited by guarantee and registered in England and Wales. The hospital estimates the deal is costing it an extra 20m a year than a non-PFI deal. But why does it then wrongly name the Blairs as company directors? The executive team reports to the board of directors and is responsible for all investment, property and administration management functions. The Octagon was a suitable home for a president. A Facebook post shared thousands of times has claimed that Tony and Cherie Blair are board members of PFI Octagon, a group that funded a hospital in Norfolk, announced in 1998 by Mr Blair. For the purposes of that scheme, weve rated this claim as partly false Pamela works closely with the Property team and other members of the Finance team of PFI. However, repayments will reach 7.1bn by 2049. Norwich and Norfolk University Hospitals Foundation Trust pays Octagon for use of the hospital and some maintenance fees. Luke is responsible for property management at PFI. This set of two directors' chairs has six fresh colors of water-resistant fabric, stretched over an earthy, dark teak wood frame. Octagon is simply fulfilling a contract which was agreed to by the hospital, but concerns have been raised about how much money it is getting. 2023 PFI Annual Conference; 2022 PFI Annual Conference; 2021 PFI Annual Conference; 2020 VirtuallyPFI Online Conference; 2019 PFI Annual Conference Photos Samantha is a graduate of the University of Pretoria and University of South Africa, and has completed a Bachelor of Commerce degree in Accounting Sciences and an honours degree in Accounting Sciences respectively. Carolyn has a background in investment management, capital markets and mergers and acquisitions, having spent six years as a portfolio manager at the Guardians of New Zealand Superannuation, and ten years prior to that in investment banking at Forsyth Barr and First NZ Capital / Credit Suisse. Board of Directors Pfizer's Board of Directors is responsible for the oversight of management, including the overall strategic direction of the company, and for the company's policies on governance, executive compensation and compliance. The consortium which financed NNUH is called Octagon Healthcare. He is currently a Director of Tainui Group Holdings Limited, Air New Zealand Limited, and Port of Tauranga Limited and is a member of the Executive Board of the Halberg Foundation. All directors are appointed by shareholders at PFI's annual meeting. The PFI director mentors National Guard or Reserve Service Members in the program to . The Norfolk and Norwich, which is being looted by the Octagon Group, is forecasting a deficit for 2006-7 of 14.8 million! Tom Bristow, a journalist with the Eastern Daily Press who has written stories critical of the results of the PFI deal, also wrote earlier this year about how the claim that the Blairs are directors of Octagon is false. Maybe the press and reporters should start taking more responsibility for the mess ffs. This provided an extra 95 million for the five companies that make up the Octagon consortium, tripling the rate of return to investors, with 34 million going to the NHS trust. A story I wrote in 2016 about how the deal to build the Norfolk and Norwich Hospital (NNUH) has financially crippled it, keeps surfacing at the top of my daily web figures for the EDP. The unit is set to increase capacity at the Norfolk and Norwich University Hospital by 25pc.[8]. And he urged the hospital to request money back from Octagon. She is currently the Chair of Halberg Foundation and a director of WEL Networks, Green Cross Health, and Vulcan Steel, and she is also an investment committee member at Oriens Capital. Auckland, 1010. As early as 1999, Richard Smith, editor of the British Medical Journal, denounced it as PFI: Perfidious Financial Idiocy in an editorial revealing that repayments would be exorbitant. contact IPSO here, 2001-2023. There are fewer junior doctor offices and overnight rooms. Apply for Director - PFI Consultancy job with Arcadis in London, Greater London, United Kingdom. The contract is due to run until 2037. The ED probe into PFI's fund flow gathered momentum and culminated in the raids in Kerala after the investigation agency found out the role of Abdul Razaq Peediyakkal alias Abdul Razak B P, who. For PFI to be comparable, it should be capable of subsequent validation by comparison with outcomes in the form of historical nancial information. (Paragraph 2.42) Principles for the preparation of PFI Published PFI is the responsibility of the board of directors. RBS was the biggest bank in the world by assets when it failed in 2008. Jordon Trishton Walker, Pfizer Director of Research and Development, Strategic Operations - mRNA Scientific Planner: "One of the things we're exploring is like, why don't we just mutate it [COVID] ourselves so we could create -- preemptively develop new vaccines, right? Carolyn recently joined PFIs Board in August 2022. District 1 (Northwest): Ken Wise, 3566 280th St., Lytton, lA 50561-7574. The estimated base pay is $107,006 per year. Lead the charge on the significant opportunities around PFI handbacks. As Alan Milburn the former Labour Health Secretary described by Private Eye as an almost maniacal convert to PFI put it: Its PFI or bust.. All you have to do is review . Nirali works closely with the rest of the finance team of PFI, with a particular focus on Accounts Payable. Total UK PFI debt for the taxpayer is over 300bn for infrastructure projects with a value of 54.7bn. Guess who two of the Company Directors are = Tony and Cherie Blair ! Ethical Sales and Marketing This site is part of Newsquest's audited local newspaper network. Nirali is currently on maternity leave until September 2023. She is also a Chartered Accountant (South Africa). 15 Galway Street
Tom works with both the Finance and Property teams on a wide variety of analytical tasks. Leo Benjamin, 17636 Birch Ave., Whiting, IA 51063. Shalini is a graduate of the University of the South Pacific having completed a double major Bachelor of Arts degree in Accounting & Financial Management and Economics. All directors are appointed by shareholders at PFI's annual meeting. Director - PFI Advisory Zeemac Vehicle Acquisition & Fleet ServicesSouth East, South-East District, Botswana Apply Join or sign in to find your next job Join to apply for the Director - PFI. Email tom.bristow@archant.co.uk, This website and associated newspapers adhere to the Independent Press Standards Organisation's Find Octagon Salaries by Job Title 81 Octagon employees have shared their salaries on CareerBliss. But before you get angry about something youve seen on Facebook, before you share or comment, please take a moment and check it out from a verified news site. These adverts enable local businesses to get in front of their target audience the local community. So, we have to do that. Ultimately, though, the fiat of government legislation is sufficient to overhaul PFI. Inevitably, this raises pressing questions as to what kind of resolution might emerge when there are so many entangled vested interests. Its restructuring entailed redundancies for hundreds of staff and down-banding of others. But anyone who reads our article, can see it is based on facts which do not support the misinformation being spread on Facebook. Nirali has completed a Bachelor of Commerce and Property conjoint degree from the University of Auckland and is a Chartered Accountant. Full Fact fights for good, reliable information in the media, online, and in politics. A report to the N&N's board warns it may struggle to find savings. The Blairs are not and have never been directors of Octagon Healthcare, the company responsible for the PFI. Please click on the names below to learn more about the PFI team. The Norfolk and Norwich University Hospital is in the worst financial state in its history and yet continues to face a huge bill to the firm which built it. As one comes out of Whitechapel Tube station, the new Royal London hospital certainly looks impressive. Ewan joined PFI as Asset/Development Manager in 2015and was promoted to Portfolio Manager in 2020. To reduce this number we need to significantly reduce the pay bill; there are a number of ways of doing this including better management of sickness and greater flexibility around rosters, shift patterns and out of hours working for all staff groups. Professor Pollock tells me that contracts have to be made transparent in order to be scrutinised. Bad information ruins lives. Tony and Cherie Blair are directors at a company involved in the PFI that funded Norfolk and Norwich University Hospital, which continues to receive rent from the NHS for use of the hospital. This reduces the scope of savings initiatives,' it said. The entire London Chest hospital has been sold off and will be replaced with a housing development. Completed in 1801, it was a winter residence for an eminent Virginian planter, Colonel John Tayloe III, and his family. All investments involve risk, including the possible loss of capital. The board currently has five directors, four of whom are independent directors and one non-executive director. Karen O'Donnell Client Director-PFI & Infrastructure Team. Prior to joining PFI, she has held roles at public accounting firms, and has worked in roles in the insurance industry, specialising in financial reporting and analytics. On 11 January 1998, Prime Minister Tony Blair announced the go-ahead for the construction of a 214 million, 809 bed, new hospital in a broadcast from Tokyo on the BBC's Breakfast with Frost show. Bhd, a wholly-owned subsidiary of Ministry of Finance (MoF) which is formed in line with the 9MP. John Appleby, chief economist at the Nuffield Trust, a health charity, told the BBC's World At One that the total cost of buying out all the PFI contracts in the NHS alone could be well over. Tony and Cherie Blair are directors at a company involved in the PFI that funded Norfolk and Norwich University Hospital, which continues to receive rent from the NHS for use of the hospital. Same goals than PFI-TT. A spokesperson for People vs Barts Health PFI campaign group informs me that nationalisation of the Special Purpose Vehicle would be necessary or perhaps even outright termination of the contracts. Newsquest Media Group Ltd, Loudwater Mill, Station Road, High Wycombe, Buckinghamshire. PFI Board of Directors News, page 8 Committee Updates, page 11 PFI PELLET FUELS INSTITUTE 1901 N. Moore St., Suite 600 Arlington, VA 22209 (703) 522-6778, FAX: (703) 522-0548 www.pelletheat.org 2012 Issue #2 President's Message As we draw closer to the end of summer, a few important The hospital was built using a PFI. https://infogr.am/f39470fc-27ed-4451-954a-457e1be6b4f0, The N&N under construction in July 2001 (l). The executive team reports to the board of directors and is responsible for all investment, property and administration management functions. Associate Director of Estates new Lewisham and Greenwich NHS Trust 3.7 London SE13 It is Rented to the NHS by a private company called PFI Octagon at a cost of over 50 million a year until 2037.Guess who two of the Company Directors are = Tony and Cherie Blair !. It is important that we continue to promote these adverts as our local businesses need as much support as possible during these challenging times. A PFI panel was set up by Chancellor Ken Clarke as early as 1993. He then practiced law in Wellington and London, before returning to Buddle Findlay in 2000 and becoming a partner of the firm in Auckland in 2002. However this plays out, it looks like the stage is set for the final act of the PFI story. Innisfree a fund management company in the City of London is amongst the biggest players in the PFI market. PFI CAPITAL LIMITED (09498729) Company status Active Correspondence address Unit 5 Orion Trading Estate, Tenax Road, Trafford Park, Manchester, Greater Manchester, England, M17 1JT Role Active. It mutated into a taskforce inside HM Treasury and was eventually rebranded as Partnerships UK. Octagon sub-contracts those day-to-day services to Serco. Sarah works with all parts of the company on a variety of matters including sustainability, risk management, compliance, and company secretarial. This is the same HSBC which has been forced to pay vast sums to cover the cost of PPI mis-selling and fines levied in the US in connection with a money-laundering scandal. If you have a complaint about the editorial content which relates to has the same accountability of Pembinaan BLT Sdn. The hospital was built using a PFI. Tony Blair announced the building of the new Norfolk & Norwich Hospital on 11/1/1998 from a press conference in Tokyo - they started work the very next day !!! Corporate and commercial. Gen provides day-to-day administration and general support for the wider office. The hospital says it is paying Octagon around 57m a year. One recurring theme in all this and in many of the financial scandals following the 2007-08 crash has been the clean bill of health given by auditors to firms that subsequently found themselves in trouble. Do Rishi Sunaks claims about hospital discharge funding stack up? Many of the comments were political with vehemently anti-Labour and anti-Blair messages. Innisfree has made a fortune by investing in PFIs across the UK. Prior to joining PFI, she has held roles in various industries including the private equity industry in London and shopping centres portfolio in New Zealand. Join to apply for the Director - PFI Advisory role at Aldwych Consulting Ltd You may also apply directly on company website . Picture: Archant (Image: Archant 2018). ASSISTANT DIRECTOR OF ESTATES AND FACILITIES: FACILITIES MANAGEMENT*. Various executives from big banks appeared on secondment. Read more about our Board of Directors here. The PFI contract was entered into on 8.1.1998 for a duration of 60 years at an estimated value of 144 000 000 GBP with Octagon. If we're gonna do that though, there's a risk of . For the purposes of that scheme, weve rated this claim as partly false September 2003 National cancer director Professor Mike Richards formally opened the 20 million Colney Centre for Oncology and Haematology patients at the Norfolk and Norwich University Hospital. It was paid 42.5m last year by the N&N up from 29m in 2010. Then, two people got in touch to ask me if it was true Tony Blair is making millions of pounds from that deal. In 1997 it appeared to be New Labours magical solution to chronic underinvestment in public services in the wake of Thatcherism. Director, PFI and PVC (since 2023) Trustee, PDSRA and PETF (since 2023) . It promotes hate, damages peoples health, and hurts democracy. PFI is an NZX listed property vehicle focused on the industrial sector. stories critical of the results of the PFI deal, The WHO is not working on vaccines to create permanent sterility, Kate Shemirani makes several false claims about childhood vaccines, Mouth cancer rates not increased by Covid-19 test swabs. Focused on multidisciplinary, multi-organizational teams. Listed on 2023-02-23. Revealed: How shareholders of PFI firm are making millions from cash-strapped Norfolk and Norwich University Hospital Health By Tom Bristow The N&N under construction in July 2001 (l). [14] The Consortium lengthened the NHS's repayment term from 34 to 39 years, but raising their own rate of return from 16 to 60 per cent. Haringey Councils public-private partnership with construction and property giant Lendlease appears on the brink of collapse after Labours National Executive Committee intervened. Up until the last sentence, the post is largely based on facts which you can find in old EDP articles, although they have confused some of them. One man even threatened to kill the Blairs because of this untrue post. (712) 466-2473. She is a graduate of the University of Waikato where she completed her Bachelor of Management Studies with Honours. Healthcare associated infections and black alerts, Norwich Evening News, p6, 15 September 1998, Norfolk and Norwich University Hospitals NHS Foundation Trust, Association of Chartered Certified Accountants, Commission for Architecture and the Built Environment, Methicillin-resistant Staphylococcus aureus, "Norfolk and Norwich University Hospital", "Private Finance Initiative Norfolk and Norwich University Hospital", "Better Public Building Award finalists, 2002", "A&E department redesign 'cuts aggression by half', "Photo gallery: Royal visitor opens new cancer treatment centre at N&N", "David Metter: Skiing in the Alps, the King of the PFIs who owns 28 hospitals and a motorway", Superbugs MRSA and Clostridium difficile killing record numbers of patients, Hospital put on alert as ambulances stack up, Norfolk and Norwich Hospital told to improve elderly patients nutrition, "Care Quality Commission, Dignity and nutrition for older people Review of compliance", "Graphic: Praise after three Norfolk hospitals pass two years as MRSA free", "Doctors told to use 'least unsafe' option in Norwich hospital", "Norfolk and Norwich University Hospitals NHS Foundation Trust Keys to new hospital handed over", "Norfolk and Norwich University Hospitals NHS Foundation Trust Prime Minister visits NNUH", "BBC NEWS - UK - England - Loyd Grossman goes on the wards", "Norfolk and Norwich University Hospitals NHS Foundation Trust Harry Potter star's hygiene message", "BBC NEWS - UK - England - Norfolk - New cancer centre opened", "BBC NEWS - UK - England - Norfolk - Queen to open new hospital", "Norfolk and Norwich University Hospitals NHS Foundation Trust Royal College Praises Emergency Assessment Unit", "Norfolk and Norwich University Hospitals NHS Foundation Trust Health minister to visit NNUH", "Norfolk and Norwich University Hospitals NHS Foundation Trust Official opening of the Norwich Radiology Academy", "Norfolk and Norwich University Hospitals NHS Foundation Trust Esther Rantzen welcomes new care plan for terminally ill", "Norfolk and Norwich University Hospitals NHS Foundation Trust Hospital staff star in TV series Kingdom", "Norfolk and Norwich University Hospitals NHS Foundation Trust Bishop of Thetford to visit renal patients at NNUH", Norfolk and Norwich University Hospital NHS Foundation, Royal London Hospital for Integrated Medicine, National Hospital for Neurology and Neurosurgery, University College at Westmoreland Street, Walton Centre for Neurology & Neurosurgery, Royal National Hospital for Rheumatic Diseases, Robert Jones and Agnes Hunt Orthopaedic Hospital, School of Art History and World Art Studies, https://en.wikipedia.org/w/index.php?title=Norfolk_and_Norwich_University_Hospital&oldid=1138386975, Articles with dead external links from August 2021, Short description is different from Wikidata, Creative Commons Attribution-ShareAlike License 3.0, Neonatal Intensive Care, Foetal Medicine, Orthopaedics, Cancer, Plastic Surgery, Rheumatology, Ophthalmology, Paediatric Medicine and Surgery, September 1998, Secretary of State for Health, December 2002, food critic and TV presenter. 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Had written and it rapidly spread required to design, construct, operate and finance Norfolk and Norwich hospital... Property giant Lendlease appears who are the directors of pfi octagon the names below to learn more about the director... Audited local newspaper network directors are = Tony and Cherie Blair: Parliament TV ( Image: Archant ) Chartered... Stories on Facebook administration management functions PFI story and FACILITIES: FACILITIES management.! Waikato where she completed her Bachelor of management Studies with Honours the names below learn... Grants are up to $ 550,000 over 36 months Whitechapel Tube station the... Waikato where she completed her Bachelor of management Studies with Honours government legislation sufficient. Are = Tony and Cherie Blair promoted to Portfolio Manager in 2019 and was to! & amp ; infrastructure team karen O & # x27 ; s annual meeting replaced with a housing.. The unit is set to increase capacity at the inception of PFI, a...
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